Coin

<ul class="news-points"> 
 <li>South Korea imposes a new “quasi-tax” on crypto exchanges.</li> 
 <li>Upbit, Bithumb, Coinone among exchanges facing new fees.</li> 
 <li>Tax aims to strengthen oversight and combat crypto threats.</li> 
</ul> 
The Financial Services Commission (FSC) of South Korea has <a href="https://n.news.naver.com/mnews/article/031/0000858468" target="_blank" rel="nofollow">announced</a> an updated regulatory framework following the implementation of the groundbreaking Virtual Asset User Protection Act. 
The official announcement on August 1 revealed that major South Korean cryptocurrency exchanges like Upbit, Bithumb, and Coinone will now be required to pay a supervisory fee based on their operating revenue. 
This “supervision contribution,” essentially a quasi-tax, is typically levied on financial institutions overseen by the Financial Supervisory Service (FSS). Businesses with operating revenues exceeding KRW 3 billion generally fall under this tax. 
Under the Virtual Asset User Protection Act, crypto exchanges will now be subject to FSS scrutiny. The supervisory fee for these companies will be determined by their prior fiscal year’s operating revenue and a predetermined contribution rate. 
Starting in 2025, all South Korean crypto exchanges will fall under FSS supervision and will be liable fo…
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South Korea Crypto Tax: New ‘Quasi-Tax’ Imposed on Exchanges

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